Best WL Insurance Plan

[rocky86]

hi all, currently I only have shield plan basic+Rider, I am looking for wholelife plan but I am unsure which insurance company provide the best WL coverage, been reading alot from here, and most of them mention TM Legacy is one of the best WL, I am considering this TM legacy but also PRU Multiplier and maybe GE Flexi, I am 28 non-smoker, also want early CI tag into my WH. Any advice will be greatly appreciated thx!

 

[Lifeisgreat91]

hi all, currently I only have shield plan basic+Rider, I am looking for wholelife plan but I am unsure which insurance company provide the best WL coverage, been reading alot from here, and most of them mention TM Legacy is one of the best WL, I am considering this TM legacy but also PRU Multiplier and maybe GE Flexi, I am 28 non-smoker, also want early CI tag into my WH. Any advice will be greatly appreciated thx!

there technically is no WL best plan
all products are designed to cover certain need/wants
also early ci term are pretty expensive

 

[Aerial86]

hi all, currently I only have shield plan basic+Rider, I am looking for wholelife plan but I am unsure which insurance company provide the best WL coverage, been reading alot from here, and most of them mention TM Legacy is one of the best WL, I am considering this TM legacy but also PRU Multiplier and maybe GE Flexi, I am 28 non-smoker, also want early CI tag into my WH. Any advice will be greatly appreciated thx!

Hi rocky, without taking into consideration any other factors, I would say one of the most competitive WL policy now is from
Tokio Marine.

I'm the same age as you and I bought a WL policy from them too. If you are keen for me to share my knowledge and experience, do let me know. I'm a FA rep

 

[Lewis.T]

Hello rocky86, might want to delete some private messages so new ones can go through!

I would say the difference is slight enough that you should go with whichever company you feel safest with, or gives you the benefits that you want.

 

[mellowmint]

How is AIA's life policy vs Pru's life policy?

 

[rocky86]

Hi rocky, without taking into consideration any other factors, I would say one of the most competitive WL policy now is from
Tokio Marine.

I'm the same age as you and I bought a WL policy from them too. If you are keen for me to share my knowledge and experience, do let me know. I'm a FA rep

Hi, can u let me know more regarding this? how much is the premium? does Early CI included? what do u mean by more competitive? thanks!

 

[rocky86]

there technically is no WL best plan
all products are designed to cover certain need/wants
also early ci term are pretty expensive

hi, what will u recommend me? if early ci is expensive?

 

[SpinFire]

Tokio Marine products are good because of its track record of maintaining bonuses. You'd want assurance of the projected values shown in the Benefit Illustration for products like endowments and whole-life policies.

I did a comparison between Great Eastern and TM 20-year limited-pay whole life policies. For the same sum assured, the TM policy had slightly higher (not much, around 3-4%) guaranteed surrender value, lower distribution costs (agent and admin fees), lower effect of deductions (due to lower fees) and lower annual premiums.

Having said these, do consider term life insurance as well for its much lower annual premiums for the same coverage. Agents will try ways and means to convince you out of it due to its low commissions (can be as much as 10x lower depending on annual premiums).

Related blog post: http://sgfinancialfreedom.blogspot.com/2014/05/tokio-marine-participating-fund-update.html

 

[Lodestars]

hi all, currently I only have shield plan basic+Rider, I am looking for wholelife plan but I am unsure which insurance company provide the best WL coverage, been reading alot from here, and most of them mention TM Legacy is one of the best WL, I am considering this TM legacy but also PRU Multiplier and maybe GE Flexi, I am 28 non-smoker, also want early CI tag into my WH. Any advice will be greatly appreciated thx!

Rocky86,

Your mailbox is full.

 

[bigmice]

whole life plan, TM has lowest premium for same Sum assure.
for early payout Term GE is the best.
every company have its own virtue , so the most important thing is what you need ?
I suggest whole life multiplier + early payout term, because before 65 or 70, a man seldom get critical illness, even have also at early or middle stage,so normal term insurance nearly claim nothing upon fall into critical illness.

 

[rocky86]

Rocky86,

Your mailbox is full.

cleared my inbox!

 

[rocky86]

whole life plan, TM has lowest premium for same Sum assure.
for early payout Term GE is the best.
every company have its own virtue , so the most important thing is what you need ?
I suggest whole life multiplier + early payout term, because before 65 or 70, a man seldom get critical illness, even have also at early or middle stage,so normal term insurance nearly claim nothing upon fall into critical illness.

oh, i was thinking is it better to get whole life now? since i am still young and add on CI coverage in the future? or maybe a term so my Whole life will not be affected and i still enjoy the interest rate

 

[Lewis.T]

If you can manage your own wealth accumulation, get a term and do your own wealth accumulation (investments etc).

Some clients just prefer plans with a cash value though, the drawback is of course lower coverage for same premiums, meaning to say the payout will be much lower than a term plan with the same premiums.

On the plus side if you can't manage your money or dislike the idea of paying purely for protection, then you should consider a whole life plan.

 

[bigmice]

oh, i was thinking is it better to get whole life now? since i am still young and add on CI coverage in the future? or maybe a term so my Whole life will not be affected and i still enjoy the interest rate

1.whole life buy when you still young, premium will cheaper, whole use to cover death with/without advance stage CI.
2. use term to cover death with/without early stage CI.

not suggest buy term with normal CI
not suggest buy wholelife with early CI. waste money.

not suggest when you to do invest only with term plan unless you are expert in invest.

(I used to do a survey for people have invest in unit trust & stock more than 5 years, 80% return below 4%, 26% people lose money.)

 

[twinklingstars]

1.whole life buy when you still young, premium will cheaper, whole use to cover death with/without advance stage CI.
2. use term to cover death with/without early stage CI.

not suggest buy term with normal CI
not suggest buy wholelife with early CI. waste money.

not suggest when you to do invest only with term plan unless you are expert in invest.

(I used to do a survey for people have invest in unit trust & stock more than 5 years, 80% return below 4%, 26% people lose money.)

meaning to say, 1) buy a life policy with death/TPD
2) early CI plan eg GE critical care adv (not a rider tag on to the life policy)

pls kindly advise, thanks!